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Rupee strengthens against US dollar on Monday

07 Nov 2022 Evaluate
Indian rupee strengthened against the US dollar on Monday tracking the overnight weakness of dollar in the US market and easing crude oil prices. Also, Foreign Institutional Investors (FIIs) were net buyers in the capital markets as they purchased shares worth Rs 1,436.25 crore on Friday, exchange data showed. However, Chinese officials reiterated their commitment to a strict covid containment approach in the face of surging infected cases in China, capped further gains in rupee.

The partially convertible currency is currently trading at 82.21, stronger by 14 paise from its previous close of 82.35 on Friday. The currency touched a high and low of 82.28 and 82.10 respectively.

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